Tesla supplier CNGR's HK IPO retail tranche 4 times oversubscribed

CNGR Advanced Material, a battery material supplier to Tesla and Contemporary Amperex Technology (3750), has received orders worth HK$1.63 billion via margin finance, making its retail tranche 4 times oversubscribed.

The firm aims to raise up to HK$3.94 billion through the initial public offering, with shares priced between HK$34 and HK$37.8 each.

It asks for a minimum investment of HK$7,636.2 per board of 200 shares.

Meanwhile, biotech Sichuan Biokin Pharmaceutical has pulled in margin loans of HK$2.3 billion, making its retail tranche 6.8 times oversubscribed.

The company plans to raise up to HK$3.36 billion, with a minimum investment of HK$39,292.3 per board of 100 shares.

The two firms are both expected to debut next Monday.